Politicizing the Federal Reserve
..For 97 years the 12 regional banks of the Federal Reserve system have operated relatively free of political interference from Washington. The looming financial reform bill threatens that independence, not least through an effort to impose new presidential appointees at the regional banks.
The biggest underreported threat comes from Subtitle I, Section 1801 of the House financial reform bill titled "Inclusion of Minorities and Women; Diversity in Agency Workforce." Sponsored by California Democrat Maxine Waters, the provision requires each federal financial agency, the Fed Board of Governors and the 12 regional Fed banks to "establish an Office of Minority and Women Inclusion." …
The law will make it harder for regulators to do what ought to be their main job, which is making sure that they don't again let a credit mania run out of control. It's one more way in which this much vaunted reform will make the financial system even more politicized, and thus more vulnerable to another panic. Read more…
KLEPTOCRACY Watch: Banana Republic?
Our government never hesitates to seize upon a crisis, be it economic or otherwise, as an opportunity to conclude that the free market has failed us, and that only the government has the power and resources to set things right. Yet, time and again, when government has been given the reins of responsibility and oversight, it has cozied up to the powerful interests it is supposed to regulate and left the rest of America out in the cold.
We are, therefore, left with these questions: Is Hitchens right? Have we traded in what was once our great "meritocracy' for what he describes as a "kleptocracy?" Has our government shelved the principle of equal justice for all" in favor of programs that provides preferences for the highest bidder? Is our constitutional republic in danger of becoming a banana republic? Read it all…
INCREDIBLE! Obama and Pelosi Hijack Christianity
Speaker Nancy Pelosi has decided to follow President Obama’s lead in claiming that God directs her lawmaking, invoking the Bible as her legislative roadmap. If a conservative Republican did this, it would be the top of the news…
Last week, Pelosi made a rambling, redundant, somewhat incoherent monologue in which she claimed that “The Word” directed her. She clarified that meant “The Word Made Flesh”—the incarnate Deity—Jesus Christ. She doesn’t leave us to surmise, elaborating that she makes policy decisions, “in keeping with the values of Jesus.”..
But this is the hypocrisy of the modern liberal culture. Countless Christians who go about their 2 Timothy 3:16 duty of regarding the Bible as God-breathed, and useful for teaching and correcting are mocked and ridiculed. These leftist elites recoil in horror if you cite to a specific passage of Scripture as guiding your decisions, while claiming that the Bible endorses a far-left political agenda is not considered worth mentioning on the air. Read it all…
WOW! Singer Sophie Hawkins: Obama throwing country 'under the bus,' choking on spill response [ Yet another defection! – JS ]
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